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Nairaland Forum / Nairaland / General / Business / NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth (2366 Views)
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NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by edunwablog: 3:49am On Jan 03, 2018 |
Expectations that the nation’s bourse would sustain its growth trajectory this year, buoyed transactions on the equity sector of the Nigerian Stock Exchange (NSE), yesterday, as the All-share index rose marginally by 0.06 per cent.
At the re-opening of trading for the year, the market capitalisation rose by N8 billion from N13.609trillion recorded as at Friday, December 29, 2017 to N13.617 trillion.
Also, the All-share index, which measures the performance of listed firms appreciated by 0.06 per cent from 38,243.19 to 38,263.79. Analysts had predicted that the NSE’s index would close at 40,000 points, however, at the close of transactions for 2017, the index closed at 38,000 points. After posting an outrageous 26 per cent loss in 2016, the Nigerian equities market gathered strong momentum in 2017, with a year to date increase of N4.5trillion in market capitalisation from N9.158trillion at year opening on January 3, to N13.609trillion on Friday, December 29, 2017. Also, the NSE All-Share Index (NSE ASI), rose by 30.4 per cent during the year under review from 26, 616.89 to 38,243.19. The Managing Director, High cap Securities, David Adonri, explained that investors are currently taking position in equities with expectations that the index would hit 40,000 points before the end of the first quarter (QI). He added that most banking stocks that had performed below expectations last year were in full bid yesterday, as investors continued to mop up. “The market closed in an upward trend. A lot of banking stocks were in full bid. Expectations by investors that those banks will perform well and pay dividend is high. The investors are in full expectations that that the market will push towards 40,000 points before the end of Q1,” he said. Further analysis of yesterday’s transactions showed that 27 stocks appreciated in price, led by CAP with 1.70 kobo to close at N35.70 per share, while National Salt Company of Nigeria followed with 0.72 kobo to close at N19.22 per share. PZ Cussons added 0.55 kobo to close at N21.15 per share. International Breweries gained 0.49 kobo to close at N54.99 per share. Dangote Sugar appreciated by 0.34 kobo to close at N20.36 per share. Zenith Bank garnered 0.29 kobo to close at N25.93 per share. However, Forte Oil topped the losers’ chart with 1.48 kobo to close at N42.00 per share. Unilever followed with 0.79 kobo to close at N40.21 per share. Ecobank TransNational Corporation lost 0.73 kobo to close at N16.27 per share. Stanbic IBTC shed 0.60 kobo to close at N40.9 per share. Union Bank depreciated by 0.29 kobo to close at N7.51 per share. On the activity chart, TransNational Corporation was the investors’ toast with 102 million shares worth N150.7million. Zenith Bank followed with 24 million units valued at N642million. Skye Bank accounted 15.5 million shares worth N7.8million. First City Monument Bank exchanged 13 million units valued at N21million. Access Bank also traded 11 million units worth N117million. http://www.akelicious.com/2018/01/nse-index-rises-006-amid-high.html
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Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by Ratello: 5:39am On Jan 03, 2018 |
What type of analyses is this on our once vibrant Stock Market, some shares of erstwhile stocks have been stagnant for the past months now yet theybwant us to believe the capital market is making sense. The last analysis at the bottom of this thread is erroneous. Nigerian Stock Exchange is not like what we used to have between 2004-2009. |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by free2ryhme: 7:34am On Jan 03, 2018 |
you will not see any space booking cos the analysis pass them 8 Likes
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Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by teemanbastos(m): 7:35am On Jan 03, 2018 |
Buhari ![]() ![]() ![]() ![]() |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by dalaman: 7:38am On Jan 03, 2018 |
free2ryhme: Space bookers where wuna dey? Come aND display your space booking credentials na. We are waiting for you guys. |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by Stycon(m): 7:40am On Jan 03, 2018 |
Cool. The Nigerian bounce is going to gain momentum this year as the economy recovers. But then this particular rally may not be unconnected to the January Effect |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by free2ryhme: 7:47am On Jan 03, 2018 |
Stycon: it may be a gimmick to lure people into investment scam plenty for the NSE |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by Stycon(m): 7:51am On Jan 03, 2018 |
free2ryhme: It ain't a gimmick. The fundamentals seems right...and it's as expected. 1 Like |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by free2ryhme: 7:56am On Jan 03, 2018 |
Stycon: this done to get risk aversers interests when they have invested as expected the speculators will pull the plug on the funds |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by marvin902(m): 8:05am On Jan 03, 2018 |
i fear the current nse pass anything... dont think am ready to have sleepless nights ![]() ![]() ![]() |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by Fesomu(m): 8:30am On Jan 03, 2018 |
We can only get better under Buhari. Slow but steady |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by arrestdarrester: 8:50am On Jan 03, 2018 |
Truth be told, our bourse is controlled by big, foreign investors who know when to pull out... If you know what's good for you just coat-tail these big russian mafia on the bourse |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by richeeyo(m): 8:53am On Jan 03, 2018 |
Ratello:Bros critic The world economy was not what it used to be then now. Even if you bought a mattress then , I hope you know what is left |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by Stycon(m): 9:17am On Jan 03, 2018 |
free2ryhme: Lol. It doesn't work that way Bro ![]() |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by juddexy2(m): 9:32am On Jan 03, 2018 |
Simply do T.Bills and have peace of mind for now |
Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by Nobody: 9:55am On Jan 03, 2018 |
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Re: NSE Index Rises 0.06% Amid High Expectations Of Sustained Growth by newslifeop: 10:35am On Jan 03, 2018 |
Oh |
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